The Financial Policy Council, a Manhattan-based think tank, has published a white paper called Energy: Policy Recommendations Projections and Opportunities showing that the U.N.’s NetZero and Agenda 21 initiatives for carbon production have no chance to come to fruition by 2050. While renewable energy is becoming less expensive, the corruption, ineptly applied subsidies and market distortions imposed by governments and liberal organizations are preventing the prices from falling and competing with less expensive coal, oil and gas. Trends and projects say renewable energy will not be cheap enough to export to countries that cannot afford to subsidize its use.
It notes that the developing world will not accept higher priced energy and has already begun to push back at the West. They claim (and rightfully so) that the West built its society on cheap energy and that the should have the same opportunities. They have begun to use terms such as “energy apartheid” and “green colonialism.”
According to lead author and CEO, Rational Energy Inc., Timothy Kaelin, “The market is so heavily subsidized that companies are vapor locked into higher prices. Nobody is even trying to get to profitability because their profits are the subsidies themselves. This means that you cannot export this equipment to countries that do not have subsidies because they get more bang for the buck with coal. It’s a mess.”
Any decreases in the use of coal by the West will be quickly offset by a growing third world, despite the anticipated pressure from the West.
Some other points from the report:
- ESG (Environmental, Cocial, and Corporate governance ) use by investment houses could cause oil and gas shortages in 3 to 5 years because it is preventing exploration.
- The China-Russia trade bloc will bifurcate the energy market with major consequences for the petro dollar. This bifurcation will also provide the opportunity for oil and gas arbitrage.
- China claims to be on track with the U.N. resolutions but is building record numbers of coal plants
- To make progress in renewable energy, the U.S. grid must be deregulated and become cellularized
- Certain reports have been corrupted by unrealistic projections of a coal consumption, painting a rosy but false picture.
To download the report, go to the link below:
